Neco Model Questions Vol1 2025 Financial Accounting Question 30

Practice objective / multiple choice question 30 from the 2025 Neco Model Questions Vol1 Financial Accounting examination.

Neco Model Questions Vol1 2025 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 30 NECO_MODEL_QUESTIONS_VOL1 • 2025 • FINANCIAL_ACCOUNTING • objective

A payment of \(\text{₦}20,000\) was mistakenly debited to Office Supplies instead of Rent Expense. Prepare the rectifying journal entry.

Answer Options

A. Debit Utilities Expense \(\text{₦}20,000\), Credit Office Supplies \(\text{₦}20,000\)
B. Debit Rent Expense \(\text{₦}20,000\), Credit Cash \(\text{₦}20,000\)
Correct Answer C. Debit Rent Expense \(\text{₦}20,000\), Credit Office Supplies \(\text{₦}20,000\)
D. Debit Office Supplies \(\text{₦}20,000\), Credit Rent Expense \(\text{₦}20,000\)
Correct Answer
C
Correct Option:
Debit Rent Expense \(\text{₦}20,000\), Credit Office Supplies \(\text{₦}20,000\)

About This Question

This is Neco Model Questions Vol1 2025 Financial Accounting Question 30. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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